Avkha Equity Holdings has acquired Minnesota-based carrier Dart Transit, ending more than nine decades of ownership by the Oren family.
The transaction, which became effective Jan. 1, ushers in a new ownership chapter for the trucking company, according to a news release.
The deal also includes Dart Express and affiliated subsidiaries. Financial terms were not disclosed. Dart Transit is headquartered in Eagan, Minnesota, and operates truckload, dedicated and logistics services across North America.
As part of the transaction, long-time Dart executive Mike DelBovo will remain president of the Dart Transit Group, while David Oren will continue to serve as president of Dart Express.
Avkha named Tom Witt as chief executive officer of the Dart Transit Group following the acquisition. Dart Transit Founder Don Oren has retired as part of the ownership transition.
Company officials said the acquisition will not result in changes to day-to-day operations and Dart will continue operating under its existing name, with no changes to drivers, customers, facilities or service offerings in the near term.
Founded in 1934, Dart Transit has grown from a single-truck operation into a sizable national carrier serving nearly all U.S. states. Federal Motor Carrier Safety Administration data shows Dart operates 971 power units and employs roughly 855 drivers.
San Francisco-based Avkha Equity Holdings said it views Dart as a strong operational platform for growth and plans to pursue additional investment and expansion opportunities within the Dart Transit Group.
Avkha, which was founded in 2022, maintains a portfolio of companies in the transportation, manufacturing and logistics-adjacent sectors.
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